whether cess is allowed as deduction???
This query is : Resolved
19 August 2010
whether education cess n shec is allowed as deduction or not...
i read in corporate professionals (magzine published by taxmann)that cess is allowed as deduction but many renouned teachers like vinod gupta sir says that cess is not allowed as deduction..
kindly help..
thanks in advance
i read in corporate professionals (magzine published by taxmann)that cess is allowed as deduction but many renouned teachers like vinod gupta sir says that cess is not allowed as deduction..
kindly help..
thanks in advance
19 August 2010
The levy is governed by the Indian Income Tax Act, 1961. Therefore,as per my understanding, it is governed by the provisions of section 40(a)(ii) of the Income tax Act,1961.
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